5.19.2006 ET

(CSRwire) BETHESDA, Md.--(BUSINESS WIRE)--May 19, 2006--Calvert (www.calvert.com), the nation's largest family of socially responsible mutual funds, announced today that the Alliance for Workplace Excellence of Maryland awarded Calvert with the 'Workplace Excellence' Seal of Approval and its President and CEO, Barbara Krumsiek, with the Visionary Leadership Award.

The Alliance for Workplace Excellence awarded 48 Maryland employers with the 2006 'Workplace Excellence' Seal of Approval. For more information on the 'Workplace Excellence' Seal of Approval and the Alliance for Workplace Excellence, visit www.excellentworkplace.org.

The 'Workplace Excellence' Seal of Approval recognizes visionary employers that view workplace excellence as a strategic business imperative. This Seal of Approval acknowledges that these leaders are paving the way toward building workplaces where employees are able to achieve success in all aspects of their professional and personal lives while enhancing the business bottom-line. Applicants are assessed in the following categories: Inclusive and Flexible Corporate Culture and Management Practices; Family and Employee Friendly Policies and Programs; Strong Health and Wellness Initiatives; Growth and Learning Opportunities; and, Commitment to Corporate, Social and Civic Responsibility.

The Visionary Leadership Award recognizes an individual whose leadership philosophy positions the employee, much like the client, at the core of its business strategy. Recognizing that employees are an organization's most valuable asset, this leader views the importance of quality of work and quality of life as interwoven, resulting in individual and organizational success.

"By maintaining this work/life balance culture, we can attract and retain employees in Washington's very competitive labor market," said Barbara Krumsiek, Calvert's President and CEO. "Our turnover rates are about one-third as high as most Wall Street firms. And I firmly believe maintaining our culture increases productivity. Our success as an organization--measured in exceptional investment results and growth in assets under management--can be linked to our commitment to fostering a work/life balance," she adds.

Calvert's work-life program includes:

-- Community Service--Twelve paid days off annually for community
service leave

-- Transportation and parking subsidies--Including all employees
whether they drive, metro, or walk to work

-- Flexible work schedule--Offering flex time, and telecommuting

-- Massage Therapy--Fifteen minute neck and back massage, free to
employees

-- Adoption (covers 80% up to $5,000)

-- Domestic partner health care subsidy

About the Alliance for Workplace Excellence

The Alliance for Workplace Excellence, formerly the Maryland Work~Life Alliance, is a 501(c)3 nonprofit organization funded by Montgomery County, Maryland and corporate sponsors. The Alliance's major strategic business partners are Randstad USA and the Montgomery County Chamber of Commerce. The Alliance for Workplace Excellence is an expansion of the Montgomery County Work~Life Alliance, founded in 1999.

About Calvert

Calvert, based in Bethesda, Maryland, is best known as a leader in the field of social investing, celebrating 30 years of helping investors reach their financial goals. Calvert manages thirty-two mutual funds with approximately $12 billion in assets under management. In 2000, Calvert created the Calvert Social Index(TM), a benchmark for measuring the performance of large, U.S.-based socially responsible companies.

For more information on any Calvert fund, please contact your financial advisor or call Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money.

Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member NASD, a subsidiary of Calvert Group, Ltd.
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